Wesleyan Homes Inc

Analysis

Wesleyan Homes Inc is a registered charity in United States, based in Georgetown, TX. It received its IRS tax-exemption ruling in May 1962, 64 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Wesleyan Homes Inc reported income of $30.1m and spending of $31.1m, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $31.4m to $30.1m (-4.2%), an average of -1.1% a year. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wesleyan Homes Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within TX. Charities of a similar size with the same main cause include St Josephs Enterprises Inc ($30.1m), Commonbond Communities ($30.1m) and St Marys Home for Disabled Children Inc ($30.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.8% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $697k (2.2% of expenses). Other salaries and wages came to $12.7m. At year end it held assets of $94.9m against liabilities of $86.5m, net assets of $8.5m. It reported 473 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.